Bottom line
- Total investment $50K – $122K including a $35K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 60/100. SBA loan default rate of 0.0% across 3 loans (below the industry average).
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one Truly Nolen unit return on the cash you put in?
Unlevered ROIC · per unit
92%
Above typical band (30–60%)
Overview
About
Truly Nolen franchisees operate pest control and termite treatment services, conducting inspections, applying treatments, and managing recurring customer accounts. Day-to-day activities include scheduling service calls, performing on-site pest treatments, customer communication, and service territory management within their protected area.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 15 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Truly Nolen presents meaningful caution due to absent financial transparency, stagnant unit growth, and franchisor stability questions that make ROI validation impossible.
Score breakdown · what drove the 60 / 100 rating
- 01MEDNo Item 19 financial disclosure (average revenue and net income not disclosed) — impossible to assess profitability or validate ROI claims
- 02MINORMinimal unit growth of 4.0% YoY suggests stagnant system expansion and potentially saturated markets
- 03HIGHGoing Concern flag is FALSE, which typically indicates financial stability concerns about the franchisor itself
- 04MINORDeclining royalty structure (7% down to 4%) may indicate franchisor cash flow pressure or competitive positioning issues
- 05MINORHigh franchise fee ($35,000) relative to low total investment range ($50,421–$122,207) suggests thin operational margins for franchisees
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
90 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Truly Nolen · FDD (2025) PDF